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Canadian M&A Market Recap: Week Ended August 24

  • Posted By: Jennifer Wang, Simone Aria, Dean Walt, Christopher Tuszynski, and Paris Aden

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Market Update

Forty-seven Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 4.3% lower than the comparable period in 2017. The Canadian dollar appreciated by 0.28 cents, ending the week at 77 cents. The TSX underperformed the S&P 500 by 0.3% in U.S. dollar terms. WTI Crude oil rose by 4.4%, ending the week at $68.05 per barrel.

According to the Lead Left, the global M&A market is very strong at this point in the year, despite the amount of recently cancelled or withdrawn M&A transactions. Cross-border deals have increased 74% compared to this time last year with over $1 Trillion USD of announced transactions.

Canadian M&A Transactions[i]

Energy (Announced)

Irving Oil to Acquire TOP

Irving Oil Limited, a Canadian company that engages in energy processing, transporting, and marketing, has agreed to acquire Tedcastles Oil Products Unlimited Company, an Irish company that operates a network of service stations, motorway service areas, and fuel card locations in Ireland. No transaction terms were released.

Energy (Closed)

High Arctic Energy Services has Acquired Powerstroke Well Control

High Arctic Energy Services Inc. (TSX:HWO), a Canadian company that provides oilfield services in Canada and Papua New Guinea, has acquired Powerstroke Well Control Ltd., a Canadian company that provides snubbing services to the oil and gas industry. Total transaction value is estimated to be $9.40 million.

Buckingham Group has Acquired Majesta Minerals

Buckingham Group Limited, a Canadian company that operates as a small privately-owned merchant bank and provides a full range of direct business support and commercial services to investee companies, has acquired Majesta Minerals Inc., a company that engages in the exploration of Uranium in the Key Lake area of Saskatchewan. Total transaction value is estimated to be $115 thousand.

Materials (Announced)

EVITRADE Health Systems to Acquire Tree Chest Safety

EVITRADE Health Systems Corp. (CNSX:EVA), a Canadian company that provides automated biomedical care services online for common health problems, has agreed to acquire Tree Chest Safety Corp., a Canadian company that manufactures and markets lockable air tight storage compartments. No transaction terms were released.

Industrials (Announced)

Ontario Teachers' Pension Plan Board to Acquire 24-7 Intouch

Ontario Teachers' Pension Plan Board, a privately-owned pension fund, has agreed to acquire 24-7 Intouch Inc., a Trilantic Capital Management backed Canadian company that provides multichannel contact centers and business outsourcing solutions to small, midsize, and enterprise-level clients. No transaction terms were released.

Consumer Discretionary (Announced)

Unisync to Acquire Utility Garments

Unisync Corp. (TSXV:UNI), a Canadian company that manufactures and distributes garments through its subsidiaries, has agreed to acquire Utility Garments Inc., a BDG & Partners backed Canadian manufacturer and marketer for uniforms and career apparel. Total transaction value is estimated to be $24.8 million.

Consumer Discretionary (Closed)

WagerTalk has Acquired Sportsmemo

WagerTalk, a Canadian company that provides sports betting information and handicapping services, has acquired Sportsmemo Inc., a U.S-based company that provides information on sports betting and handicapped information. No transaction terms were released.

Westmont Hospitality Group has Acquired Embassy Suites by Hilton Tampa

Westmont Hospitality Group Inc., a Canadian owner and operator of hotel chains internationally, has acquired Embassy Suites Hotel by Hilton Tampa Airport Westshore, a U.S-based company that operates as a hotel with an outdoor pool and fitness center, meeting facilities and business center. Total transaction value is estimated to be $56 million.

360insights has Acquired Ad-Check Promotion Administration Services

360insights a Sageview CapitalKlass CapitalOMERS VenturesRound 13 CapitalLeaders Fund and Intercap backed Canadian company that provides a platform for brands to create, measure, and manage their incentives programs, such as sales incentives and rebates, has acquired Ad-Check Promotion Administration Services Inc., a Canadian company that provides trade promotion services. No transaction terms were released.

Healthcare (Announced)

Auxly Cannabis Group to Acquire KGK Science

Auxly Cannabis Group Inc. (TSXV:XLY), a Canadian company that operates as a cannabis streaming company, has agreed to acquire KGK Science Inc., a Canadian company that  researches and conducts clinical trials within the dietary supplement, functional food, and natural product industries. Total transaction value is estimated to be $12.3 million.

AREV Nutrition Sciences to Acquire AdviceScene Enterprises

AREV Nutrition Sciences Inc. (CNSX:AREV), a Canadian company that produces and delivers natural health products for medical, functional food, nutraceutical, sport nutrition, and bioceutical markets, has agreed to acquire AdviceScene Enterprises Inc., a Canadian company that produces and sells cannabis products. Total transaction value is estimated to be $5.80 million.

Healthcare (Closed)

Caprion Proteomics has Acquired Primity Bio

Caprion Proteomics Inc., a Canadian company that provides proteomics and immune monitoring services for the pharmaceutical and biotechnology industry internationally, has acquired Primity Bio Inc., a U.S-based company that provides flow cytometry platforms to biopharma for use throughout the drug discovery process. No transaction terms were released.

New Water Capital has Acquired Trillium Health Care Products

New Water Capital LP a U.S-based private equity firm, has acquired Trillium Health Care Products Inc., a Canadian company that provides contract manufacturing services for health care and personal care markets in North America. No transaction terms were released.

Information Technology (Announced)

AA Acquisition Group to Acquire Oryx Gaming International

AA Acquisition Group Inc., a Canadian company, has agreed to acquire Oryx Gaming International LLC, a U.S-based company that provides turnkey gaming solutions. Total transaction value is estimated to be $11.3 million.

Paragon Blockchain to Acquire FinX Solutions

Paragon Blockchain Inc., a Canadian company that offers cryptocurrency and blockchain solutions to digitize marijuana supply chains, has agreed to acquire FinX Solutions Inc.,

Planet Ventures backed Canadian company that develops a blockchain enabled mobile payment and remittance platform. Total transaction value is estimated to be $250 thousand.

Jonas Software to Acquire Ez-Runner Systems

Jonas Operating Group, a Canadian company that creates and sells enterprise management software and operates independently managed software companies internationally,

has agreed to acquire Ez-Runner Systems Ltd, a U.K-based company that provides flexible management software solutions. No transaction terms were released.

Time Machine Capital to Acquire 1093683 BC

Time Machine Capital, a U.K-based private equity firm, has agreed to acquire 1093683 BC Ltd., a Canadian company that develops, builds, and commercializes artificial intelligence platforms for music editing, sports training, social commerce, and financial service applications. No transaction terms were released.

Information Technology (Closed)

The Descartes Systems Group has Acquired PinPoint GPS Solutions

The Descartes Systems Group Inc. (TSX:DSG), a Canadian company that provides logistics technology solutions internationally, has acquired PinPoint GPS Solutions Inc., a Canadian company that manufactures GPS fleet tracking and mobile workforce management devices. Total transaction value is estimated to be $18 million.

JDM Technology Group has Acquired Applied Computer Systems

JDM Technology Group Inc., a Canadian company that provides business software systems for architecture, engineering, and construction industries, has acquired Applied Computer Systems, Inc., a U.S-based company that provides business management software for the construction industry. No transaction terms were released.

Francisco Partners Management and British Columbia Investment Management have Acquired VeriFone Systems

Francisco Partners Management LLC, a U.S-based private equity firm, and British Columbia Investment Management Corporation, a privately-owned investment manager, have acquired VeriFone Systems Inc., a BlackRock Fund Advisors backed U.S-based company that provides payment and commerce solutions at the point of sale internationally. Total transaction value is estimated to be $4.5 billion, reflecting a 15.1x EBITDA multiple.

F12 Networks has Acquired Apps on Tap

F12 Networks Inc., a Canadian company that provides Hardware-as-a-Service, managed services, and cloud solutions, has acquired Apps on Tap Inc., a Canadian company that consult and provide small and midsize businesses with software to manage all their applications, tools and data. No transaction terms were released.

F12 Networks has Acquired Paradigm Network Solutions

F12 Networks Inc. has acquired Paradigm Network Solutions Inc., a Canadian company that provides managed IT services in Canada. No transaction terms were released.

Routeique has Acquired SDMG

Routeique Inc., a Canadian company that designs and develops cloud-based logistics and delivery management solutions, has acquired SDMG, a Canadian company that specializes in digital solutions for major retailers. No transaction terms were released.

Other (Announced)

Breaking Data to Acquire AA Acquisition Group

Breaking Data Corp. (TSXV:BKD), a Canadian company that provides and offers artificial intelligence services in North America has agreed to acquire AA Acquisition Group Inc., a Canadian company. Total transaction value is estimated to be $15.5 million.

 


[i] Includes all M&A transactions in which either the target or buyer is a Canadian private company.

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